Bitcoin, BTC to USD, surged by 9.55% on Wednesday. Following on from a 0.92% gain on Tuesday, Bitcoin ended the day at $21,318.0.
It was a mixed start to the day. Bitcoin slipped to an early morning intraday low $19,317.8 before making a move.
Steering clear of the first major support level at $19,150, Bitcoin rallied to a late intraday high and a new swing hi $21,444.0.
The breakout saw Bitcoin break through the day’s major resistance levels to strike an all-time high on the day.
The near-term bullish trend remained intact, supported by the breakthrough to $21,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $10,660 to form a near-term bearish trend.
Across the rest of the majors, it was another mixed day on Wednesday.
Polkadot slid by 6.69% to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
For the current week, the crypto total market cap fell to a Monday low $545.05bn before rising to a Wednesday high $620.92bn. At the time of writing, the total market cap stood at $612.97bn.
Bitcoin’s dominance fell to a Monday low 64.21% before rising to a Wednesday high 65.50%. At the time of writing, Bitcoin’s dominance stood at 65.03%.
At the time of writing, Bitcoin was down by 0.49% to $21,213.0. A mixed start to the day saw Bitcoin rise to an early morning high $21,365.0 before falling to a low $21,200.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Cardano’s ADA (-0.51%), Litecoin (-0.19%), Polkadot (-0.13%), and Ripple’s XRP (-1.05%) joined Bitcoin in the red.
It was a bullish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was up by 3.49% to lead the way.
Bitcoin would need to avoid a fall through the pivot level at $22,693 to bring the first major resistance level at $22,069 into play.
Support from the broader market would be needed for Bitcoin to break out from Wednesday’s high $21,444.0.
Barring an extended crypto rally, resistance at $22,000 would likely leave Bitcoin short of the first major resistance level at $22,069.
In the event of another extended crypto rally, Bitcoin could test resistance at $23,000 before any pullback. The second major resistance level sits at $22,820.
Failure to avoid a fall through the $20,693 pivot would bring the first major support level at $19,943 into play.
Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$19,500 levels. The second major support level sits at $18,567.